FedEx Corporation $FDX Shares Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. lifted its stake in shares of FedEx Corporation (NYSE:FDX) by 18.4% during the first quarter, Holdings Channel reports. The firm owned 34,191 shares of the shipping service provider’s stock after buying an additional 5,313 shares during the period. Meeder Asset Management Inc.’s holdings in FedEx were worth $12,178,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Meeder Advisory Services Inc. raised its stake in shares of FedEx by 13.4% in the 1st quarter. Meeder Advisory Services Inc. now owns 7,547 shares of the shipping service provider’s stock worth $2,688,000 after buying an additional 894 shares in the last quarter. WCM Investment Management LLC bought a new position in FedEx during the first quarter valued at about $17,612,000. Hamel Associates Inc. grew its holdings in FedEx by 6.2% during the first quarter. Hamel Associates Inc. now owns 1,870 shares of the shipping service provider’s stock worth $666,000 after acquiring an additional 110 shares during the period. Dimensional Fund Advisors LP grew its holdings in FedEx by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,630,669 shares of the shipping service provider’s stock worth $936,688,000 after acquiring an additional 52,963 shares during the period. Finally, Parallel Advisors LLC raised its position in FedEx by 2.3% in the first quarter. Parallel Advisors LLC now owns 9,268 shares of the shipping service provider’s stock worth $3,301,000 after acquiring an additional 206 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Insider Activity at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.53% of the stock is currently owned by corporate insiders.

FedEx Stock Performance

FDX stock opened at $313.17 on Monday. The firm has a 50 day simple moving average of $342.12 and a 200 day simple moving average of $349.62. FedEx Corporation has a 52 week low of $172.88 and a 52 week high of $345.36. The stock has a market cap of $74.72 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.61 and a beta of 1.29. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 EPS for the quarter, beating analysts’ consensus estimates of $5.91 by $0.40. The firm had revenue of $25.01 billion for the quarter, compared to the consensus estimate of $24.04 billion. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.07 earnings per share. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. Research analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is 26.36%.

Wall Street Analyst Weigh In

FDX has been the subject of several recent research reports. Jefferies Financial Group assumed coverage on shares of FedEx in a research note on Tuesday, June 23rd. They set a “buy” rating and a $200.00 target price for the company. HSBC decreased their price target on shares of FedEx from $360.00 to $289.89 and set a “hold” rating on the stock in a research report on Monday, June 1st. Seaport Research Partners started coverage on FedEx in a research report on Wednesday, May 27th. They set a “buy” rating for the company. Barclays reduced their price objective on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, June 17th. Finally, Stifel Nicolaus decreased their target price on FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $350.54.

FedEx Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.